URBN and Stripe to power online and in-person retail payments

By Delisha Fernandes

Stripe, a financial infrastructure platform for businesses, has announced a partnership with URBN to power online and in-person retail payments for Urban Outfitters, Anthropologie Group, Free People, and FP Movement.

With Stripe as its primary payments infrastructure, URBN will introduce a more consistent checkout experience for its customers with the goal of increasing authorization rates and enabling future innovation.

“Payments are a critical link between our brands and millions of URBN customers who expect checkouts to be as easy as trying on an outfit or adding items to a cart,” said Dave Hayne, chief technology officer at URBN. “Stripe lets us stay focused on building the best unified commerce experience possible by removing the complexity of payments across our brands.”

With billions in annual sales, URBN is consolidating the majority of its North American payments volume onto Stripe. In doing so, URBN expects to see higher authorizations, better reliability, more precise data analytics, and greater potential for future payments innovation.

“Without the right payments setup, retailers are leaving millions on the table at a time when customers are even more selective about their spending,” said Eileen O’Mara, chief revenue officer at Stripe. “Shoppers expect an easy checkout experience and businesses want high authorization rates. We’re thrilled our partnership will enable both for URBN.”

URBN will use additional tools to power money movement and gather more precise analytics. URBN will use Stripe Connect to facilitate payments between third-party merchants and buyers on their brand marketplaces, which host independent apparel brands. Additionally, finance teams at URBN will use Stripe Sigma and Stripe Data Pipeline to automate the collection of revenue data and financial reporting for all of its brands.